Alvin Lee, Maybank Singapore’s country CEO talks about how the bank is leveraging technology, expanding its regional footprint and embedding sustainability into its initiatives
Banks in Singapore are navigating a new growth landscape shaped by cross-border client needs, an intensifying focus on sustainability and rising demand for personalised digital banking services. As a key financial hub in the ASEAN region, Singapore is also central to efforts in aligning long-term value creation with innovation and responsible finance.
Against this backdrop, Maybank Singapore is sharpening its strategy to build on its strengths in wealth management, digital platforms and SME support. In the following interview, the bank’s country CEO Alvin Lee discusses how the bank is leveraging technology, expanding its regional footprint and embedding sustainability into both its commercial and community engagement efforts.
What are Maybank Singapore’s strategic priorities over the next five years and which areas of the business do you see as key growth drivers?
Maybank Singapore’s strategic focus includes wealth management, sustainable finance, and trade, cash and supply chain financing. As the [Malaysia-based Maybank] Group’s designated wealth management hub and regional offshore Islamic wealth management centre, the bank aims to leverage its ASEAN network and deep expertise to strengthen the One Maybank proposition across entities, offering differentiated capabilities and expanded cross-border solutions to better meet customer needs.
Maybank Singapore also remains committed to serving as the preferred financial partner along the Malaysia-Singapore corridor, acting as a one-stop hub for cross-border financial services and solutions. At the same time, the bank continues to identify new growth areas and enhance customer experience to sharpen its competitive edge.
Which business segments are driving the most growth and how is Maybank Singapore capitalising on them?
Wealth management continues to be a key growth driver, with an 84% year-on-year increase in wealth fee income in the financial year (FY) 2024. AI is being deployed to enhance client experience, support portfolio management and offer personalised investment strategies including real-time financial advice. Innovation remains central to strengthening the bank’s overall proposition.
SMEs represent another important growth segment. Expansion is under way through the Maybank myimpact SME programme, which supports business growth and sustainability by offering an ESG readiness tool. Strategic partnerships with industry bodies are also being deepened to strengthen collaboration and extend support to more enterprises.
What role does innovation play in your growth strategy and how is Maybank Singapore leveraging technology to improve experience and efficiency?
We are accelerating digital transformation efforts across the bank, with data science and analytic s being used to deliver hyper-personalised services, automate operational processes and develop AI-powered financial solutions. Blockchain is also being adopted to improve the security and efficiency of transactions, contributing to a more seamless and customer-centric banking experience.
As a market leader in the automotive finance space, we have introduced MyAutoHub, the first ecosystem of its kind in Singapore. The platform allows third-party car dealers and partners to digitally submit customer transactions, with real-time updates and instant approvals. The bank has also integrated offerings such as car insurance and credit cards into the platform to streamline the customer journey end-to-end.
How is Maybank Singapore ensuring its ESG and CSR initiatives create long-term business and stakeholder value beyond compliance?
Banks play a key role in driving climate action by directing capital and resources towards sustainability goals. Maybank works with its stakeholders to align financial support with ESG priorities and accelerate transition efforts.
Through the Maybank myimpact SME programme, the bank helps small and medium-sized enterprises integrate sustainability into their operations by offering ESG assessments and access to an ecosystem of partners. This includes support for training, sustainability reporting and green financing.
Community-focused initiatives such as the Maybank Momentum Grant and Maybank KidSTART Saving Stars also form a core part of the bank’s purpose-driven approach, enabling non-profit organisations and vulnerable groups to benefit from sustained social investment.
Maybank has been recognised under the Best CSR Initiative – Environmental Impact award category. Can you share specific milestones and measurable outcomes from this initiative?
The myimpact SME programme delivers values-based support to help SMEs future-proof their operations and build positive environmental and social impact. One of the key features is an ESG readiness assessment, developed in collaboration with the Netherlands’ KPMG, which evaluates current practices and identifies areas for improvement.
The programme also connects SMEs to a strong network of ESG, green and digital merchants to help accelerate their sustainability journeys. Outcomes are measured through sustainable financing solutions mobilised by the bank in support of the companies participating in the programme.